Money laundering dates back as early as 2000 BCE; people have always felt the frustration of seeing hard-earned dollars go to kings and queens or governments as taxes. So it’s not surprising that people have been trying to avoid paying taxes for centuries. What has advanced money laundering in this era of technology is the ability to contact strangers, set up business entities without ever meeting a person, and electronically transfer money around the world from your phone or computer.
However, money laundering is a crime. Just as portrayed in the hit series Breaking Bad, it is commonly set up through a cash–based business to legitimize otherwise illegal gains. Other ways money laundering occurs:
- Moving money outside the country to avoid reporting or taxes;
- Transferring money to someone else other than for a legitimate business purpose or transaction; or
- Transferring money outside of normal banking practices to avoid taxes or detection by governments.
- Money laundering is linked to the following problems:
- Funding of terrorism;
- Support of criminal entities or organized crime;
- Illegal sale of weapons or prostitution; or
- Transfer of money from the sale of illegal drugs or activities.
Because of the nature of money laundering and the various disguises used to transfer funds, it is difficult to ascertain the amount of money laundering that regularly occurs. However, according to the United Nations Office on Drugs and Crimes, it was estimated that in 2009 nearly $1.9 trillion dollars were transferred through money laundering schemes.
If you have been accused of money laundering or have been approached by someone asking you to transfer money to them, please contact our attorneys immediately. Keep your white collar clean and avoid any schemes or business plans that seem to be moving or transferring unidentified sources of funds. If you have a question or concern about money laundering, please do not hesitate to contact our office.
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Don’t put your future in jeopardy! Know your rights and protect your reputation by speaking to the Khonsari Law Group. Please contact our experienced attorneys at (727)269-5300 for your free consultation. You can trust the expertise of the Khonsari Law Group; we focus on criminal matters and criminal defense.